The state of Illinois insists that it has made it easier for claimants to collect unclaimed property in its possession, but often NBC 5 Responds hears from viewers who use a different description A Chicago family said they almost walked away from more than $6,500 in unclaimed funds, left behind by their late father, after […]
According to a 2015 California Legislative Analyst’s Office (“LAO”) report, unclaimed property is the fifth largest revenue source for the State of California. This report also acknowledges the “tension” between State interests and an individual owner’s property rights. The term “Tension” does not fully capture the scope of the restrictions States have placed on the […]
In the year 2014, Pennsylvania suffered a large budget gap. Faced with an impending financial challenge, the legislature convened to find ways to increase state revenue. In an effort to reduce the budget deficit, the state took steps to tinker with their unclaimed property laws. They shortened dormancy periods for long-term hold investments and savings […]
At Choice Plus, LLC, we hear a lot about people’s misperceptions regarding what will be required of them by unclaimed property administrators in order to prove their entitlement to recover their property. The biggest misperception is that anyone can recover their property without paying for help. While many unclaimed property owners in Florida and California […]
Why do States discourage owners from paying a professional to handle their unclaimed property claim? It’s true that many people can, and do, recover their property without paying fees to a service provider. It is also true that people regularly pay for services that they can do themselves. In fact, National Public Radio recently reported that for the […]
“The key to recovering unclaimed property isn’t finding it – it’s documenting the owner’s entitlement to the property. This is by far and away the most important part to getting paid.” – Randy Hotz, President of Choice Plus, LLC It is often simple for many owners of unclaimed property to document to their ownership and successfully […]
In 2010, Ms. O’Conner came to Choice Plus LLC for assistance. She had an outstanding family support judgement against her ex-husband in the total of more than $177,000. In her efforts to recoup this money, O’Conner sought the help of Choice Plus, LLC to receive a partial payment of her judgment by claiming her husband’s […]
When George was a teenager, his dad talked about helping him buy a motorcycle. Though intentions were admirable, financial margins were never quite large enough to make the purchase. Years came and years went, and George is now a vibrant, middle-aged man, who still had a dream to own a motorcycle. After his father died, […]
Across the United States, there are $56 billion of unclaimed property comprised of bank accounts, stock holdings, safety deposit boxes, and other personal property, waiting to be reclaimed by its rightful owners. State governments are able to use unclaimed property while it remains unclaimed. It would make sense for states to be doing everything they can to help […]
Some people dream of winning the lottery. Others are waiting for a rich relative to leave a substantial inheritance. Yet, many people in the United States, and specifically in Florida and California, are the rightful owners of extensive amounts of property or money – and they often have absolutely no idea. Not only that, but […]